Friday, January 4, 2013

Crack-up GOLD

Protect our gold from the beast!!"Those who control the economy describe gold as a “dead investment”, oppose its import, and talk of putting the “gold to work”.Significantly, the proposals of Raghuram Rajan, the government’s chief economic adviser, favor foreign bankers who seek to hoard gold to protect themselves from a major economic collapse. Raghuram Rajan was formerly with the International Monetary Fund and is currently affiliated with the secretive BDT Capital based in Chicago. He also works for the University of Chicago whose endowment fund operates like a hedge fund with a portion of its investments tied to gold. Yet, Raghuram Rajan opposes the ownership of gold by Indians who want to protect themselves from the impending economic downturn."Read the full article here.Making capitalism work"What we are witnessing, globally as well as in India, is the end-game for fiat currencies (for the scholarly-oriented, the present conditions could be best summarised as the “Crack-Up Boom,” as defined by Ludwig von Mises, an economist from the liberal, laissez faire-oriented Austrian School of Economics.). From now on, all Keynesian stimulus policies would actually go on to worsen the imbalances rather than revive growth." More here.